Cramer Needs to Apologize 21 comments
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Cramer needs to call a viewer and apologize for linking The Buckle, (BKE), and saying it is a buy, buy, buy. This is the problem with anything that has to do with stock recommendations and is called the “lightning round.” Basically, you cannot make an informed decision about a stock when you rush through a segment and spend, what, 15 seconds with a caller? This poor lady probably went all in and now is suffering a 14% loss, nice job.
Here is their same store sales:
One good example of what is going on with teen retailers is The Buckle, which had posted double-digit same-store sales gains for 22 consecutive months. That streak was broken in June, and continues in July. The company said Thursday its same-store sales rose 2.8 percent in July, which is a solid increase compared with other retailers that have reported so far. However, analysts surveyed by Thomson Reuters were expected the company to report a 10 percent increase in monthly same-store sales.
So much for blowing out the monthly numbers.
Here is what Cramer said: “Buckle: Cramer is bullish on Buckle, calling it “a superior retailer.””
I realize he switched over to entertainment, but this is a bit ridiculous. I actually have a lot of respect for Cramer the hedge fund manager, but as a TV pundit, he is not so good. He has had some good picks, but my point is that the whole lightning round thing is not good for investors as they will buy or sell on his recommendation. Either he needs to prescreen callers or discontinue that segment.
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I really don`t know what to think of Cramer, but the Buckle has been one of the very few teen retailers to be positive earners. Given the state of the economy, I think they have done quite well compared to the competition. To be fully honest, I have been a holder of BKE and actually increased my position early this morning. I`m a believer in this retailer. But then....I`m not trading day to day...
On Aug 06 01:27 PM friar tuck wrote:
> i beg to differ with you ray. you are very short sighted about buckle's
> stock. do you really think that after hearing cramer's opinion about
> a stock that everybody just goes crazy buying it? you are a very
> assuming individual. just because us amateur traders are not educated
> in economic fantasy doesn't mean we are stupid. and, bronson young,
> if you happen to watch lightning round are you put under some kind
> of spell? fear the lightning, don't watch it, you'll go broke. you
> don't lose money on the stock market until you take it out and put
> it in a savings account. cramer's show is the only good entertainment
> on tv. cut the crap you short sellers.
On Aug 06 01:26 PM User 39058 wrote:
> Just had to put this out.
> I really don`t know what to think of Cramer, but the Buckle has been
> one of the very few teen retailers to be positive earners. Given
> the state of the economy, I think they have done quite well compared
> to the competition. To be fully honest, I have been a holder of BKE
> and actually increased my position early this morning. I`m a believer
> in this retailer. But then....I`m not trading day to day...
My best buy recommendations have come from the "The Phoenix List" and other random recommendations from gurus, like you, on this site. To that end, thank you, all of you, for sharing your expertise with the likes of my talent level, novice traders in general. Thank you.
Back to Cramer: My biggest beef with him is that he'll recommend buying a stock but never offer selling it, or visa versa. Additionally (and for example), he'll recommend Costco's biggest competitor, let 3 weeks go by while saying nothing more on the stock and then the next thing you know, the s.o.b. is recommending Costco, WTF?! When people will call in (not just during the lighting round) he’ll cut them off before letting them ask their question. That, or he’ll ignore the most fundamental part of their question and just yes or nor the stock.
It seems to me that everything he recommends, except for "Speculative Fridays," is a $40+ stock with a short term potential for gaining 5% - 10%. I can pick those stocks myself; I want help looking for the 50% short term stocks or the 500% long term stocks. Cramer, are you listening?
I'll keep watching the guy because he’s my favorite cheerleader but I'll also continue to balance him out by taking heed of what the Bears have to say, most of whom seem to reside on this site.
But he is entertaining, and I watch the show a couple of days a week. I`m more a "Fast Money" fan than one of his..
And no....same rules, just use their calls as one piece of the puzzle.
On Aug 06 02:45 PM Ray wrote:
> That's great because you did your homework and like it. I am also
> glad you did not buy it because someone told you to buy it in 15
> seconds. You are ahead of the game!
There are so many time tested greats in this business (Pring, Graham, Edwards and Magee, I could go on forever) with their wealth of knowledge available, I don't know why you would turn to this guy.
No, of course not. But that is what you are doing if you accept his recommendations. You have no idea how much work, time or effort he's put into what he's saying. Just because their are no barriers to entry, does not mean this business is easy. In fact it is probably one of the most competitive, esoteric, and difficult businesses to succeed in.
When you put a trade on, remember that if you are buying, someone is selling. And that person is most likely a professional whose literal financial survival depends on him being right and you being wrong. So if you do not have an edge in terms of knowledge, skill, methodology, or time put into your research, all you are doing is rolling the dice at a casino (where you might in fact have better luck!).
Another big joke is when people call in with their 4 individual stocks and subsequently told, "You are diversified "
Also, if he did a follow up "I said buy buy buy two months ago well now its time to sell" segment on every buy stock mentioned on the show there wouldn't be very much time to do anything else on the program. He covers that by often saying "Do you homework,... research each stock you own for at least one hour per week." He can't hold your hand forever, he wants you to be your own investor or if you insist on being a "do it all for me" type, than go visit a professional in person.
PS: I am not a "fan" of Mr. Cramer. I think he is a clown who doesn't know that the opposite of Buy and do your homework is not Buy and Hold but Buy and Forget.
when he not only recomende ,but PUSHED HARD that Sears Holding
run by his good friend will be the next Waren Buffet, along with
his Berkshire spectacular performance, was going to be an ABSOLUTE FACT. This call mersefally saved us from future
disasters.
His show is similar to the numerous cold calls we receive from
brokers that recoment 5 or 10 stocks and only call back on the
ones that performed.
Not quite as briliandt as Mr. Cramer continuously claims he is,
We to can pick 10 stocks at random, and surely one or two will be winers, along with the ultimat braging rights.
CNBC's continuous disclaimer, surely was brought on by more
than a few un-hapy investers.
.
monkeys with darts and a sense of humor anyone?
That's basically how Buffett did it when he first started, except that he was much more obsessive than any of us and he would catch a lot more - he wasn't the long term buy a business with a durable competitive advantage guy until he got so much money that his positions basically became illiquid. People think he didn't sell Coca Cola a few years back when it was vastly overvalued because he owns so much that he cannot get out, the moment he moves everybody follows him and the stock dies. The same thing is happening with his Moody's position, the moat is breaking down as the ratings agencies have been exposed and Buffett can't get out.
I think Cramer tries his best to to do 25 stock calls per day. However, that is ridiculous. Investors make most of their money in two or three picks a year (note that is easily over 100 companies in a lifetime!). Cramer has some good ideas, but it gets diluted by his 2nd best, 3rd best, 4th best, ..., 25th best idea. People don't make money on their 25th best idea. If Cramer could only make a couple of stock calls each year, he would probably say buy the "mobile internet tsunami", he has been saying that for a long time now and it has proven to be a great idea. Cramer is a smart man, but I don't want to go with idea #100, I want to only go with the best. Keep that in mind. He's an entertaining guy and he explains some companies that I wouldn't have found myself, but do your own research and buy your top 3 or 4 best ideas, not Cramer's 100th best idea.
Weatherpersons provide better advice unless you are looking for trading ideas in which you do the exact opposite of what the idiot says and you will do well. In fact, this assertion also has been documented by Barrons and others.
Lemmings of the world BEWARE.